Products That Usually Last Over Many Uses, Such as Cars

question 77

Multiple Choice

Products that usually last over many uses, such as cars and appliances, are referred to as

• A) endurable goods.
• B) nondisposable goods.
• C) imperishable goods.
• D) reliable products.
• E) durable goods.

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Definitions:

Excess Supply

A situation where the quantity of a good or service supplied exceeds the quantity demanded at the current price, leading to surplus.

Sunglasses

Protective eyewear designed to prevent bright sunlight and high-energy visible light from damaging or discomforting the eyes.

Price

The amount of money expected, required, or given in exchange for something else; a fundamental economic concept that represents the value of a good or service.

Excess Demand

A situation in a market where the quantity demanded of a product exceeds the quantity supplied at a given price, leading to upward pressure on prices.